Crypto Market Loses $2.47 Billion in First Half of 2025

The crypto market experienced significant losses in the first half of 2025, with a total of $2.47 billion lost according to the latest report by CertiK's Hack3d. The report highlights that wallets were the most targeted, with a total loss exceeding $1.7 billion across 34 different incidents. Phishing attacks followed closely, resulting in losses around $410 million in 132 incidents.

The second quarter of 2025 saw $801 million in losses, while the first quarter accounted for approximately $1.67 billion. The adjusted total losses for the first six months of the year amounted to $2.29 billion, marking an increase from the $1.98 billion lost in the previous year. Notably, two incidents alone accounted for around 72% of the total losses, including the hack of Bybit in the first quarter and the Cetus incident in the second quarter.

Exit scams and price manipulation were relatively less prevalent but still resulted in collective losses of $20 million. Access control exploits caused around $42 million in losses. The Ethereum chain was particularly affected, with a total loss of $1.58 billion across 164 incidents.

In the second quarter of 2025, the crypto market lost $395 million to phishing scams across 52 different incidents. Wallet compromises remained significant, with $112 million lost in 9 different cases. The hack of Bybit, a centralized cryptocurrency exchange, was one of the most prominent incidents, resulting in severe losses.

Recent high-profile hacks include the Nobitex exchange in Iran, which was hacked for $90 million in cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. The attack was reportedly backed by a pro-Israel hacking group. Coinbase, one of the largest centralized exchanges, faced a cyberattack costing $180 million and $400 million, with hackers obtaining account data from overseas employees. Abracadabra.Money was exploited for $13 million due to a vulnerability in its protocol’s infrastructure. On March 07, 2025, 1inch lost $5 million due to a vulnerability in its fusion v1 protocol, but the attackers returned 90% of the stolen funds after the platform offered a bounty of 10% of the amount.

Despite these losses, some funds were recovered. Around $187 million was recovered in the first quarter, and $180 million was recovered in the second quarter. The report underscores the ongoing challenges faced by the crypto market in securing its assets and protecting against various forms of cyber threats.